Fidelity International has appointed a global equities fund manager who was formerly with Magellan and Australian Foundation Investment Company.
Rosie Malcolm joins the fund manager where she will manage the $416 million Fidelity Global Equities Fund and Fidelity Hedged Global Equities Fund, strengthening Fidelity’s investment capabilities in Australia.
Based in Sydney, she’s most recent role was at Australian Foundation Investment Company, where she established and led the firm’s global equities strategy.
Prior to this, Malcolm was a portfolio manager and head of franchises at Magellan Asset Management, where she was responsible for investment and portfolio recommendations and held sector leadership responsibilities within a concentrated global equities strategy, as well as serving on the firm’s investment and macro committees
Simon Glazier, managing director, Australia, at Fidelity International, said: “Rosie is a highly experienced global equities investor with a strong track record of building disciplined, high-quality portfolios. Her deep expertise, combined with her experience in establishing and leading global equities strategies, makes her an excellent addition to our team.
“Rosie’s appointment reflects our continued commitment to strengthening our investment capabilities in Australia and delivering high-quality outcomes for our clients. We are particularly excited about her leadership of the Fidelity Global Equities Fund and the opportunity to further grow and evolve our offering in the local market.”
The Fidelity Global Equities fund has returned 8.6 per cent over one year to 30 April versus returns of 16.5 per cent by the MSCI All Country World Index benchmark. Set up in 1998, it typically holds 60-85 global equity stocks and aims to provide sustained compounding returns and seeks to manage downside risk by diversifying across sectors, countries and companies.
In February, the firm appointed Sam Heithersay as a co-portfolio manager on its Fidelity Australian Equities and Australian Diversified Equity Fund (SICAV) alongside Paul Taylor. He joined the firm in 2018 in its London office as a US healthcare investment analyst before moving to its Sydney office in June 2021 where he worked on its Australian equities team covering resources.
Meanwhile, former Australian equities manager Casey McLean left the firm last June to join Magellan where he was recently appointed as manager of its Magellan Global Opportunities strategy alongside Alan Pullen after the firm made a series of management changes.
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